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That's really surprising they would pay $6.50/pt. That's over half of what they charge retail for points (assuming most point buys get a small discount off the $13+ price tag). I'm wondering if someone at MVC goofed, not really realizing how your contract was worded, and exercised before they realized the mistake. Then when your second one came through they didn't make the same mistake twice. That's the only reason I could think they would exercise at that price. Hard to figure out sometimes.
Was this a different seller from your $6.80 one and presumably happened before you got yours to pass at $6.80? On a recent post in another thread, someone said they contacted Marriott about selling their contracts (deeded weeks and DC points) and the person received more for their DC points than what they paid. If so, Marriott may be offering to buy back at somewhere between $6.50 to $6.80. I suspect Marriott is doing buy back case by case. But still, it is good news for those who may want to turn in their DC points down the road when they no longer use them.
This was a different seller. This was the transaction before my successful one. But it was with the same broker. She was surprised that they exercised.
It's kind of an applies and oranges comparison. And there is a certain inherent value, meaning your $75k cost (+/-) is not $75k lost. If, 10 years later, you can sell it for $65k, it cost you $10k, not $75k. And if 10 years later you can ell it for $85k, well...
I also can’t comment on whether it is worth spending $75K upfront for a MOC Napili/Lahaina 3 bedroom oceanfront. However, there will be a huge resale value left over after 10+ years and units like this would rent for over $2000+ per night on the open market, if you could find it. We own at Aulani and their 1 bedrooms rent for $1500 in peak season without a prime oceanfront view and it’s on Oahu, not as prime an island as the other ones. So I image a 3 bedroom oceanfront in Maui would cost a fortune to rent per night. I also imagine the experience of staying in an oceanfront 3 bedroom in a high quality resort like MOC Napili/Lahaina is priceless to people who can afford it.
I got exercised on a 2BR Habour Lake Platinum for $1,750 that I was selling. As usual we are approaching the busy season and they are exercising ROFR more than usual.
There is nothing wrong with asking if they are adding in any commission fees to come to a higher gross price or if they are submitted it at the $995 but I am not a fan of paying more than the arrived Fair Market Value. I have seen Marriott pass on $100 and exercise on $1000 and there are always more units to buy and the prices continue to go down and not up. Never pay more to pass unless it is a unit that is hard to find and you really want.
Marriott just exercised ROFR on a shadow ridge enclaves 2BR deluxe platinum for $3000. I was bummed. When is slow season? I figured I'd try again maybe next fall...
Marriott just exercised ROFR on a shadow ridge enclaves 2BR deluxe platinum for $3000. I was bummed. When is slow season? I figured I'd try again maybe next fall...
That's what I was thinking... Still bummed though .I was looking forward to owning in Palm desert. Used to exchange in with Westin but they never deposit spring weeks any more.
That's what I was thinking... Still bummed though .I was looking forward to owning in Palm desert. Used to exchange in with Westin but they never deposit spring weeks any more.
I'll post back once I hear about ROFR on mine. My realtor says they just closed one for the same price, $2,000 so hopeful. Sometimes, it seems like luck. The way I look at it, there's a lot of people trying to sell that cannot. So, I am at a minimum doing them a favor by making Marriott buy them back. If they exercise enough of them, they may not want any more. I don't mind submitting offers on a dozen properties if it takes that many.
Palm Desert is my favorite place to go. We've gone there around 20 years in a row and continue to love it in February. Hard to beat the weather in the US around that time.
Marriott just exercised ROFR on a shadow ridge enclaves 2BR deluxe platinum for $3000. I was bummed. When is slow season? I figured I'd try again maybe next fall...
PASSED ROFR today!
Two ANNUAL island view deeds for $5500 each. That is same asking price that EOY had one year ago.
I saw these on Redweek. Since I started that purchase, at least one more annnual island view is up for sale right at $5000. There are two more at just under $6000.
I didn't try to talk owner down on price; $5500 is very reasonable in my book.
Ocean View are still asking over 2x.
I can't find which thread it was in, but I recall someone posting a few weeks ago that they had passed ROFR on a EOY Waiohai at $2500. But my recollection is it was from an eBay seller and it sounded like the seller had bundled some upfront fees and/or closing or other costs into the ROFR submittal price. If that's the case, the "real" ROFR price that Marriott waived on was greater than $2500, but he got it for $2500 as his cost.
I was also considering an EOY Waiohai to go with our just purchased EOY MOC, and actually considered a month or so ago going ahead and trying to buy something so we could have the current owner reserve it for 2019 to match with our new MOC, but opted to wait and book our Kauai week for 2019 with a combination of our legacy Barony elected points and some rented points. I didn't want to jump the gun and buy a Waiohai in case I found a good deal on another MOC unit before our next use year in 2021.
My suggestion is talk to a timeshare realtor who does a lot of sales. While rofr.net is a good resource, it's not confirmed data either and it is far from complete. Actual sales data on a more widescale basis to me is more useful. It still would not provide any guarantee of course, but data is always a good thing. PM me if you want a reference.
Any attempt at nailing down an ROFR threshold is an exercise in futility. Even when you think you have it, you do not. They will exercise on $1,000 and a month later pass on $100. There are many variables that go into it.
I know from experience that one pattern is maintenance fees already paid after the turn of the year vs fees not yet paid in December. One way to greatly increase the chance of passing ROFR is having a unit that starts usage past a year that remains unpaid.
Any attempt at nailing down an ROFR threshold is an exercise in futility. Even when you think you have it, you do not. They will exercise on $1,000 and a month later pass on $100. There are many variables that go into it.
I know from experience that one pattern is maintenance fees already paid after the turn of the year vs fees not yet paid in December. One way to greatly increase the chance of passing ROFR is having a unit that starts usage past a year that remains unpaid.
Agree with @Saintsfanfl : Apparently Mother Marriott is apparently not fond of exercising ROFR with MF's unpaid and usage committed or deposited vs a fully paid unit with unassigned occupancy available for transfer.
Yes, it is more likely to pass ROFR if the usage is gone and the billed fees are unpaid. I believe this is why there are so many that pass towards the end of the year and so many that are exercised after the turn of the year when the usage and fees align a year out.
Yes, it is more likely to pass ROFR if the usage is gone and the billed fees are unpaid. I believe this is why there are so many that pass towards the end of the year and so many that are exercised after the turn of the year when the usage and fees align a year out.
I think this goes along with how long it takes them to end up conveying the weeks to the trust. It is probably about a six to nine month process from when they exercise to when they actually have points they can sell. Three months probably to close on the ROFR transaction and then another six as they convey the weeks to the trust and bundle them all together in points conveyances. So at the end of this year if they have 2019 usage available and the MFs for 2019 unpaid, they really don't want to take that as it will be September or later of 2019 before they can sell it but they are having to pay the MFs for 2019. They won't be able to sell it with 2019 usage and have to take the MF hit on the transaction.
I think this goes along with how long it takes them to end up conveying the weeks to the trust. It is probably about a six to nine month process from when they exercise to when they actually have points they can sell. Three months probably to close on the ROFR transaction and then another six as they convey the weeks to the trust and bundle them all together in points conveyances. So at the end of this year if they have 2019 usage available and the MFs for 2019 unpaid, they really don't want to take that as it will be September or later of 2019 before they can sell it but they are having to pay the MFs for 2019. They won't be able to sell it with 2019 usage and have to take the MF hit on the transaction.
New to timesharing. I am in the process of buying Marriott’s Aruba Surf Club EOY - passed ROFR on 2/8/18 at $1400. I just had an offer accepted on an EOY Marriott Harbour Lake for $450. I’m holding my breath it passes!!!!
New to timesharing. I am in the process of buying Marriott’s Aruba Surf Club EOY - passed ROFR on 2/8/18 at $1400. I just had an offer accepted on an EOY Marriott Harbour Lake for $450. I’m holding my breath it passes!!!!
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